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More than 400 gasoline stations across the Philippines have temporarily stopped operations amid rising fuel prices, according to the Philippine National Police.

PNP spokesperson Randulf Tuaño said the figure forms part of the 14,313 fuel retail outlets currently being monitored nationwide in coordination with the Department of Energy.

The monitoring aims to prevent possible hoarding and profiteering as global oil prices continue to climb.

The reported closures come as fuel prices increase due to ongoing tensions in the Middle East, a key oil-producing region that influences global supply.

Mostly in provincial areas

According to the PNP, most of the gasoline stations that temporarily shut down are located in provincial areas, where smaller operators may be more vulnerable to sudden increases in fuel costs.

Authorities have already submitted a list of the affected stations to the Department of Energy to determine the reasons behind the closures.

Probe into possible hoarding

The DOE is expected to review whether some stations may be withholding fuel supply instead of selling at current market prices.

The agency has the authority to investigate irregularities in the downstream oil industry and ensure that petroleum products remain available to consumers at fair prices.

Ongoing monitoring

The PNP said monitoring efforts will continue as authorities work to ensure sufficient fuel supply and compliance among retailers during the ongoing oil price hikes.